NBA rumors: Timberwolves’ ownership turmoil brings eye-opening contract situation to light

Amid the ongoing ownership saga involving current owner Glen Taylor and prospective owners Alex Rodriguez and Marc Lore, recent reports indicate potential implications for the Minnesota Timberwolves’ front office, according to Shams Charania of The Athletic.

Charania notes, “Two top seeds in West have Minnesota President Tim Connelly’s fingerprints: He helped build Nuggets into champions and has revived the Timberwolves. Amid ownership turmoil in Minnesota, sources say Connelly has an opt-out in his contract after the season.”

As the legal dispute continues between the trio regarding the future control of the franchise, it’s reported that Taylor withdrew from the previously agreed-upon deal, partly due to financial projections submitted by Rodriguez and Lore. These projections suggested a need for significant salary reduction for the team in the 2024-25 season.

Currently, the Timberwolves are on track to allocate approximately $186 million in salary to only nine players for the 2024-25 season, as per Spotrac. This not only surpasses the initial luxury tax threshold but also exceeds the more stringent second apron once the roster is fully constructed. Teams surpassing the approximately $189 million second apron face higher payouts to non-taxpaying teams and encounter additional roster-building restrictions.